U.S. Consumer Prices Increase Solidly in March

U.S. consumer prices increased by the most in more than 8-1/2 years in March and underlying inflation picked up as more parts of the economy reopened thanks to increased vaccinations and massive fiscal stimulus, Reuters reported.

The consumer price index jumped 0.6% last month, the largest gain August 2012, after rising 0.4% in February, the Labor Department said on Tuesday. Excluding the volatile food and energy components, the CPI rose 0.3%. The so-called core CPI nudged up 0.1% in February.

Economists polled by Reuters had forecast the overall CPI advancing 0.5% and the core CPI climbing 0.2%.

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